# In the matter of Satya Prakash & Ors. vs. Bhusan Power and Steel Ltd. Through Monitoring Agency & Anr.

> NCLAT judgment dated 2023-07-11. Citation: TCN-2023-NCLAT-00803. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT),…

- **Court:** NCLAT
- **Order date:** 11 Jul 2023
- **Citation:** TCN-2023-NCLAT-00803
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/satya-prakash-ors-vs-bhusan-power-and-steel-ltd-through-monitoring-agency-anr-67d887fc

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, concerning a matter under the Insolvency and Bankruptcy Code (IBC).

## Facts

The appeal was filed before the National Company Law Appellate Tribunal, Principal Bench, New Delhi.

The appellant sought permission to withdraw the appeal with leave to avail other remedies.

The respondent's counsel was present during the hearing.

The NCLAT allowed the withdrawal of the appeal.

The appeal was dismissed as withdrawn with liberty to avail other remedies.

The period consumed by the Appellant in pursuing the present appeal shall be excluded while considering the limitation matter.

## Issues and analysis

### Issue 1: Whether the appellant should be granted permission to withdraw the appeal with leave to avail other …

**Ratio:** The court has the discretion to allow the withdrawal of an appeal with liberty to avail

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**Reasoning:** The appellant sought to withdraw the appeal, and the respondent did not object. Allowing

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**Interpretation:** The court interpreted the relevant provisions of the law to allow the appellant

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**Application:** The court applied its discretion to allow the withdrawal of the appeal with

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## Parties

- **Judges:** Rakesh…; Alok Sriv…
- **Appellants:** Satya Prakash &…
- **Respondents:** Bhusan Power &…; Through Monitoring…
- **Advocates:** Rakesh…; Abhinav V…; +3 more

## Timeline

- **2023-07-11 — Order…**: The NCLAT allowed the appellant's request to withdraw the appeal with liberty to avail…

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